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Gee4orce · Aug 1, 2002, 08:42 AM

Guess how much this house is going for:

<img src="http://195.92.38.90/agencies/1018/004/type1/6whitefr.jpg" alt=" - " />
(The one with the brown door in the middle)

A bit of info: it's in Chester (NW England), has 2 bedrooms, a dining room/kitchen, a lounge, bathroom and small study. It has a single allocated on-road parking space, no garden and the door opens onto the street.

This is not an extreme example, just a random house pulled off an agencies website.

maxelson · Aug 1, 2002, 09:09 AM

I'm in . $200k. So. What's that. �275k?
Perhaps a little background on the area?

SimeyTheLimey · Aug 1, 2002, 09:55 AM

<blockquote>quote:<hr />Originally posted by maxelson:
I'm in . $200k. So. What's that. �275k?
Perhaps a little background on the area?<hr /></blockquote>Chester is a very cute town. A friend of mine went to Chester College and I used to go there a fair bit. I haven't been there since the late 80's, but my impression was it was pretty expensive.

What we need is for my brother's house in Coventry to finally appreciate to the point where he can afford to get out of that dump.

The Placid Casual · Aug 1, 2002, 10:03 AM

I dread to think what that house is going for!!

I am looking to buy in Oxton Village on the Wirral...gave up on Chester beacuse of the prices!

I currently live in Welwyn Garden City in Hertfordshire, and the prices are just shocking. I currently rent a 2 bedroom house, with a lounge, kitchen and conservatory...it is so small that it feels like a coffin. A cat would definately not get swung in here...I was speaking to my landlord who said that she is considering selling when the contract is up because it is worth �220,000+. She paid �107,000 3 years ago.

I'm from Cardiff, and visited there at the weekend. When I was a student I lived in a rental property my parents owned... it had 5 bedrooms and was in a relatively run down area. The asking price when they bought it 5 years ago was �45,000. They sold it for a few thousand profit. I saw the house at the weekned and it was on the market for �150,000.

The situation is out of control.

IMHO the situation is unsustainable. First time buyers are priced totally out of the market...there ar no 'cheap' properties for them to buy...the whole maarkety will eventually stall.

The other problem is Interest Rates...they are just so low at the moment. If they go up even 2 percent what will happen to peoples mortgage repayments?? A friend of mine has borrowed 5 times his income for a house, and he can barely pay it back now....if the rates go up, which I think they will, a lot of people are going to be stuffed.!!

The UK is heading for trouble in a big way...

Just my 2p worth,

Peace,

Marc

[ 08-01-2002, 10:05 AM: Message edited by: Marc2211 ]

Gee4orce · Aug 1, 2002, 10:32 AM

Mark - totally agree. Of course, if I'd managed to sell a house for �100K profit, I might feel differently. It's better than working for a living...

Yep, the situation is totally, totally out of control. House prices simply do not reflect the rest of the economy. The BofE and got to raise interest rates to calm the situation otherwise it's going to be painfull for a lot of people when the brown sticky stuff hits the rotational air cirulation unit...

Any more bids ? You're all way off so far.... Maxelson - you got your $ and � the wrong way round.

Jamie · Aug 1, 2002, 10:36 AM

�640,000?

Timo · Aug 1, 2002, 10:39 AM

I'll have a go, not knowing anything about Chester or NW England for that matter.

Lessee, looks nice, prolly convenient to either services or some up-and-coming hipster quarter, not a council flat, beautiful casement/steel windows, hmm...

$450K.

$350K if the surrounding area's a dump, perhaps more if it's really quaint/convenient/hip.

Gee4orce · Aug 1, 2002, 10:42 AM

<blockquote>quote:<hr />Originally posted by jambo:
�640,000?<hr /></blockquote>OK - that's a bit silly.

The actual price is �295,000.

...a third of a million.
...more than 10 times the national average sallary.

This is for a 2-up, 2-down terrace house, with no garden. I have a new 4-bed house in a very nice location and I payed just over 1/3 that much less than 2 years ago.

Timo · Aug 1, 2002, 10:45 AM

Do I GET A PRIZE, or what?

Gee4orce · Aug 1, 2002, 10:45 AM

<blockquote>quote:<hr />Originally posted by Timo:
I'll have a go, not knowing anything about Chester or NW England for that matter.

Lessee, looks nice, prolly convenient to either services or some up-and-coming hipster quarter, not a council flat, beautiful casement/steel windows, hmm...

$450K.

$350K if the surrounding area's a dump, perhaps more if it's really quaint/convenient/hip.<hr /></blockquote>Heheh - spot the New Yorker. I suppose those kind of prices are not news to you.

Now tell me , if I'm a graduate, earning maybe �20K if I'm lucky, how long is it going to take me to save up the necessary �30K, 10% deposit, and which lender is going to be stupid enough to loan me �270,000 ?

...what if I'm a council worker, bringing home �12K ???

Timo · Aug 1, 2002, 10:51 AM

<blockquote>quote:<hr />Originally posted by Gee4orce:
Heheh - spot the New Yorker. I suppose those kind of prices are not news to you.<hr /></blockquote>No, it's not, but it doesn't mean I'm used to it. The buying/selling here is difficult.

<blockquote>quote:<hr />Now tell me , if I'm a graduate, earning maybe �20K if I'm lucky, how long is it going to take me to save up the necessary �30K, 10% deposit, and which lender is going to be stupid enough to loan me �270,000 ?

...what if I'm a council worker, bringing home �12K ???<hr /></blockquote>Yep. There is a lack of starter housing here in many parts of the US as well. I find it also interesting that traditional starter housing�multifamily units, or even trailer parks�are effectively zoned out of large parts of urban areas...this means long commutes for folks from the urban fringe. And more highways, sprawl and pollution.

No wonder many people stay renting.

maxelson · Aug 1, 2002, 10:51 AM

<blockquote>quote:<hr />Originally posted by Timo:
Do I GET A PRIZE, or what?<hr /></blockquote>Why do YOU get a prize? I said �275k. I was the lowest bidder without going over! Meee! Meeeeeee! I was closestest! With zero info? C'mon. I at least get the house, don't I?

Mediaman_12 · Aug 1, 2002, 10:56 AM

<blockquote>quote:<hr />Originally posted by SimeyTheLimey:
 <blockquote>quote:<hr />Originally posted by maxelson:
I'm in . $200k. So. What's that. �275k?
Perhaps a little background on the area?<hr /></blockquote>Chester is a very cute town. A friend of mine went to Chester College and I used to go there a fair bit. I haven't been there since the late 80's, but my impression was it was pretty expensive.<hr /></blockquote>Err Chester is a City, and that place is small enough to be within the (Roman) City walls.
Within City walls = ultra exclusivity = bloody expensive.

US perspective. If you have seen that 'Stuart Little' movie, imagine if that house they lived in really existed, it's that sort of property.

[ 08-01-2002, 10:58 AM: Message edited by: Mediaman_12 ]

Timo · Aug 1, 2002, 10:56 AM

<blockquote>quote:<hr />Originally posted by maxelson:
<blockquote>quote:<hr />Originally posted by Timo:
[qb]Do I GET A PRIZE, or what?<hr /></blockquote>Why do YOU get a prize? I said �275k. I was the lowest bidder without going over! Meee! Meeeeeee! I was closestest! With zero info? C'mon. I at least get the house, don't I?<hr /></blockquote>Got you on a technicality:
<blockquote>quote:<hr />Originally posted by GeeForce:
Any more bids ? You're all way off so far.... Maxelson - you got your $ and � the wrong way round./<hr /></blockquote>Dude (dOOd), you said $200K, which works out to �129.

maxelson · Aug 1, 2002, 10:59 AM

You're right about the market tho. Nuts. Take my house. Where it is, 170. Move it to Concord (we did the research on this, so it is pretty accurate) land and all, 1.2 Million. Yep. Move it a few miles northeast of me, 250-300. Move it inside 495 and we are 350-400. Dollars go up clser to Boston.
Give it a coastal water view, same amount of land and we go back to the 1- 1.5 mil thing.
Nuts, I tell ya.

[ 08-01-2002, 11:00 AM: Message edited by: maxelson ]

Timo · Aug 1, 2002, 11:01 AM

<blockquote>quote:<hr />Originally posted by maxelson:
Move it inside 494 ...<hr /></blockquote>Hmm...495? 494 is outside Mpls. (and perhaps other places).

maxelson · Aug 1, 2002, 11:02 AM

<blockquote>quote:<hr />Originally posted by Timo:
 <blockquote>quote:<hr />Originally posted by maxelson:
<blockquote>quote:<hr />Originally posted by Timo:
[qb]Do I GET A PRIZE, or what?<hr /></blockquote>Why do YOU get a prize? I said �275k. I was the lowest bidder without going over! Meee! Meeeeeee! I was closestest! With zero info? C'mon. I at least get the house, don't I?<hr /></blockquote>Got you on a technicality:
<blockquote>quote:<hr />Originally posted by GeeForce:
Any more bids ? You're all way off so far.... Maxelson - you got your $ and � the wrong way round./<hr /></blockquote>Dude (dOOd), you said $200K, which works out to �129.

<hr /></blockquote>Technicality. I was going for the �275k. Whut. You trust me, don't you?
Wanna buy this shed? 96k. $. Not �. That's a concrete slab that thing is sitting on, you know!

The Placid Casual · Aug 1, 2002, 11:39 AM

OK guys, for a real laugh look at the Hamstead, Kensington and Knightsbridge agents!!

They are very nice areas, but a bit of info for US and out of UK readers, some parts weren't always that way...

<places estate agent hat on>

"Ah yes, you're after a nice 2 bedroomed flat, with a few reception rooms near the underground station?..we have just what you're looking for:

Maida Vale, Little Venice, London

2 Bedrooms

2 Receptions

<img src="http://homepage.mac.com/mjr22/.Pictures/flat.jpg" alt=" - " />

Just a few flats now remain in this prestigious development of 97 apartments within a listed edwardian building just a stones throw to Little Venice,Maida Vale underground and a short journey into central London.The flats are beautifully appointed to include superb wood floors,luxury kitchens to include a full complemet of appliances,marble tiling to the bath/shower room floors and private balconies to the upper floor flats.In addition there is 24 hour porterage,passenger lifts,a reserved parking space for each property and landscaped communal gardens.These super flats must be seen at the earliest opportunity.

Price: �950,000"

<takes off estate agents hat>

Alarm bells sound when it says when it says "97 appartments" <img border="0" title="" alt="[Eek!]" src="eek.gif" /> this sounds like a block of flats to me...

For this money, the 24 hour porterage had better be done by Kylie...

Peace,

Marc

[ 08-01-2002, 11:42 AM: Message edited by: Marc2211 ]

Jellytussle · Aug 1, 2002, 04:59 PM

<blockquote>quote:<hr />Originally posted by Marc2211:

I currently live in Welwyn Garden City in Hertfordshire...Marc<hr /></blockquote>No shiznit! Me too! We should arrange a MacNN gathering.. howzabout a pint at the Rose & Crown in Tewin? Didja get to the Music Box thing at Campus West recently - BTaM were fantastic (local band).

Oh, and on topic, i bought my place for �90k 4 years ago, and the house next door just went for �190.. sold in three days. whew.

agentz · Aug 1, 2002, 05:32 PM

Yup, house prices are going mad at the moment (well for the last few years anyway).

I don't live anywhere expensive, can't afford to!

My house is an ex Council house, end terraced, three bedrooms, living/diningroom, kitchen, bathroom, small front and back gardens, built in 1975 (great example of 1970's New Town non-architecture!). Its in a town called Livingston which is about 20 miles from Edinburgh city centre.

Bought it two years ago for �38,000 but one about 150ft away sold last week for almost �50,000. There's another one identical (apart from its mid-terraced) in the next street along and its just gone up for sale at offers over �48,995. Another one, this time the four bedroom version is in the paper this week at offers over �57,995.

I'm really glad I bought this place when I did - it was my first house and if I'd left it any longer I wouldn't have been able to afford anything other than an ex-council flat in a far less desirable part of this town (which is where I grew up so I didn't really want to be elsewhere).

I would dearly love to live in Edinburgh, somewhere close to the city centre. I was fortunate enough to share several flats over the last few years, but even then those prices were well scary - the first was a tiny little modern two bedroom flat. The rent was something like �700/month - paying for the privelege of a private secure parking space and a swipe card that gave access to a small swimming pool, gym and sauna, all about two miles from the city centre.

The next flat was a much larger two bedroom basement flat in a Georgian terrace in Scotland Street (a really lovely part of town, I miss it lots

) It was something like �850/month but it wasn't in brilliant order - there were quite a few jobs needing done. I shared this flat for about six months and would jump at the chance of living in that part of town again if I could afford it.

The last flat I was in was a ground floor three bedroom place in a nice little street just off the Meadows (a large public open space in the city centre). If I recall correctly it was something like �950/month.

Its stupid just now, it really is. For what I was paying as my share of the rent on any of those flats I'm paying a mortgage on my own house with much more space.

SimeyTheLimey · Aug 1, 2002, 06:03 PM

Originally posted by Mediaman_12:
<blockquote>quote:<hr />Err Chester is a City, <hr /></blockquote>Ok, ok. But so is Ely. And all that place is practically is a cathederal. This is one area where the US definition makes a whole lot more sense.

The Placid Casual · Aug 1, 2002, 06:04 PM

<blockquote>quote:<hr />Originally posted by Jellytussle:
 <blockquote>quote:<hr />Originally posted by Marc2211:

I currently live in Welwyn Garden City in Hertfordshire...Marc<hr /></blockquote>No shiznit! Me too! We should arrange a MacNN gathering.. howzabout a pint at the Rose & Crown in Tewin? Didja get to the Music Box thing at Campus West recently - BTaM were fantastic (local band).

Oh, and on topic, i bought my place for �90k 4 years ago, and the house next door just went for �190.. sold in three days. whew.<hr /></blockquote>Cool, I'm always up for a Pint! My email is in my profile

Marc